EnLink Midstream (NYSE:ENLC) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of EnLink Midstream (NYSE:ENLC) in a report issued on Thursday morning. The brokerage issued a hold rating on the pipeline company’s stock.

A number of other analysts have also weighed in on ENLC. UBS Group lowered shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Monday, September 30th. US Capital Advisors cut EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 price objective on shares of EnLink Midstream in a research note on Thursday, November 21st. Raymond James downgraded shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Finally, Mizuho reiterated a “neutral” rating and set a $15.00 price objective on shares of EnLink Midstream in a report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.40.

EnLink Midstream Price Performance

Shares of ENLC stock opened at $14.72 on Thursday. The company has a market capitalization of $6.73 billion, a P/E ratio of 70.07 and a beta of 2.43. EnLink Midstream has a 12 month low of $11.55 and a 12 month high of $16.40. The stock has a 50 day moving average of $14.88 and a two-hundred day moving average of $14.41. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.30.

EnLink Midstream (NYSE:ENLC) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The firm’s revenue was down 7.9% compared to the same quarter last year. As a group, equities analysts expect that EnLink Midstream will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ENLC. Hodges Capital Management Inc. increased its holdings in shares of EnLink Midstream by 2.5% during the fourth quarter. Hodges Capital Management Inc. now owns 138,522 shares of the pipeline company’s stock worth $1,960,000 after purchasing an additional 3,313 shares during the period. Caprock Group LLC bought a new stake in shares of EnLink Midstream during the fourth quarter worth about $284,000. Pacer Advisors Inc. raised its stake in shares of EnLink Midstream by 26.7% during the fourth quarter. Pacer Advisors Inc. now owns 128,009 shares of the pipeline company’s stock valued at $1,811,000 after acquiring an additional 26,937 shares during the last quarter. SG Americas Securities LLC acquired a new position in EnLink Midstream during the 4th quarter worth about $114,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in EnLink Midstream during the 4th quarter valued at approximately $2,053,000. 45.87% of the stock is owned by institutional investors.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.